January Case-Schiller Index: Down 1 from December.

The latest Case-Schiller Index showed that Seattle-area home values were down 1% from December, 4% from last January, pretty much mirroring the nation.

At 130.03, the index shows that values are 30% higher than January 1, 2000. However, the current level is equal to that of May 2004.

Seattle-area real estate has experienced a turn-around over the past couple of months, which we expect to show up in the March and April May C/S-I. Inventory levels around the sound are at extreme lows – some areas have under six weeks’ inventory – which has led to numerous bidding wars.